China tries to defuse trade pressure, says world benefits

U.S. President Donald Trump welcomes Chinese President Xi Jinping at Mar-a Lago state in Palm Beach Florida

China Says Its Trade Practices Benefit World

White House pressure on other countries to stop all imports of Iranian oil is seen as creating an oil a shortage while a power struggle in Libya has left it unclear whether the internationally recognised government or rebels will handle oil exports.

European shares, meanwhile, fell 0.5 percent to the lowest since April 12. France's CAC 40 was 0.2 percent higher at 5,291. The Dow Jones industrial average lost 0.7 percent to 24,117.59. Britain's FTSE 100 climbed 0.4 percent to 7,539. The index is the global market's worst performer this year, down 14 percent since the start of this year. Equity futures indicate Wall Street will open weaker and MSCI's ex-Japan Asian equity index fell 0.8 percent to a fresh two-year low. Australia's S&P/ASX 200 added 0.2 percent to 6,209.70.

CHINESE BEARS: China's market benchmark has tumbled into bear territory as trade tensions with Washington spook investors.

Chinese stocks were the biggest losers with Shanghai Composite Index sinking 0.9 percent to 2,818.75.

Samsung Galaxy Note 9 - Release Date Officially Confirmed
For the past few generations, the Galaxy Note series has adopted the same design language as the Galaxy S model of the same year. The tipster made it public that the Galaxy Note 9 would use ISOCELL Plus technology to deliver improved image quality.

Beijing will reduce tariffs on thousands of products from India and South Korea, as well as the smaller economies of Sri Lanka, Bangladesh and Laos, China's commerce ministry said Thursday, CNN reported.

"A lot of the large bets in currency markets such as long euros or short Swiss francs have been broadly unwound and we are in a very headline driven environment", said Paul Bednarczyk, head of G10 FX at Continuum Economics in London.

Two US major auto trade groups on Wednesday warned the administration that imposing up to 25 per cent tariffs on imported vehicles would cost hundreds of thousands of auto jobs, dramatically hike prices on vehicles and threaten industry spending on self-driving cars.

TECH DOWNTURN: Eyes will be on US technology stocks, which had tumbled Monday on reports that the Trump administration plans to limit exports of some high-tech products to China, and also limit investment in technology firms by companies with substantial Chinese ownership. The tariff on soybeans will be cut by half to 1.5 percent effective July 1 and those on some other crops such as rapeseed will fall from as much as 9 percent to as low as zero.

Germany Have Been Knocked Out Of The 2018 World Cup
Joachim Loew's side crashed out of the group stages after surprise defeat to South Korea in Kazan on Wednesday night. Germany players and officials are on their way home after their shock exit at the Russian Federation 2018 World Cup .

The euro rebounded on Wednesday as concerns about an escalating trade conflict held back the dollar, while traders said markets needed clarity on a developing political crisis in Germany and an European Union summit before pushing the euro higher.

"The change was decided upon as unilateralism and trade protectionism are on the rise and tensions appear in the trade relations among global economies", the state-run China Daily said, referring to the looming US-China trade war.

A Chinese couple drink on a bench in a shape of a mocked aerial bomb with a USA flag outside a fashion boutique selling US brand clothing at a mall in Beijing, Thursday, June 28, 2018. "China trade conflict and some renewed concerns over growth outlook, few are willing to step in and step up right away".

Benchmark U.S. crude fell 31 cents to $72.45 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, rose 18 cents to $77.80 in London.

Michy Batshuayi kicks himself in the face after goal
The Borussia Dortmund striker, now on loan from Chelsea reacted hilariously to the incident and saw the amusing side to his gaffe. "We are happy that tomorrow is probably one day too early, but I don't think he is going to take any longer than that", he said.

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